Expecting to exchange soon on a ground floor flat in Coven. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Coven should include some of the following:

• Are pets allowed in the flat?

Last month I purchased a leasehold property in Coven. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Coven with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Coven can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Coven leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such changes. Where you fail to have the consents to hand do not contact the landlord without checking with your conveyancer in the first instance.

All being well we will complete the disposal of our £425000 maisonette in Coven next week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Coven?

Coven conveyancing on leasehold flats normally necessitates the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

Are there frequently found deficiencies that you witness in leases for Coven properties?

There is nothing unique about leasehold conveyancing in Coven. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

I invested in buying a 2 bed flat in Coven, conveyancing was carried out 2007. Can you work out an approximate cost of a lease extension? Corresponding properties in Coven with an extended lease are worth £225,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2086

You have 61 years remaining on your lease we estimate the price of your lease extension to range between £21,900 and £25,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Coven